The Straits Times : Weekly Overseas Edition, 22 August 1998

Total Pages: 24
1 24 The Straits Times : Weekly Overseas Edition
  • 20 1 The Straits Times Weekly Edition Saturday August 22,1998 Price: S$ 1.20 (in Singapore) Elsewhere by subscription only MITA (P) 080/08/98
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  • 457 1  -  Hu LEONG WENG KAM THE Public Utilities Board (PUB) will invite tenders for Singapore’s first desalination plant at Tuas next year and may issue bonds to finance its construction expected to begin by the year 2000. The billion-dollar pilot project for the first of
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  • 177 1  -  LESLIE KOH THE economic crisis, and even the dark clouds over bilateral ties with Indonesia, have not stopped more than 250 volunteers from signing up for a twoweek Operation Raleigh expedition. When staff of Raleigh International Singapore, the local branch of the Londonbased international
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  • 276 1  -  By DOMINIC NATHAN DESPITE keen competition from regional ports, Singapore retained its position as the world’s busiest port with 808 million gross tonnes handled last year. Singapore also held its place as the world’s top bunkering port with sales totalling 16.94 million tonnes. According to
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  • PRIME NEWS
    • 650 2  -  *L AHMAD OSMAN PRIME Minister Goh Chok Tong* lawyers on Thursday cntinvd Mr J. B Jeyaretnam for his response to Mr Goh’s generous offer to waive the $lOO,OOO in defamatory damages he won from the Workers' Party chief. They said that he was incorrigible
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    • 485 2  -  By DERWIN PEREIRA IS LAMPUNG THE early morning rain did not drown the enthusiasm. Three beats of the gong and the 18-tonnc crane from the Singapore-registered vessel, Java Venus, on Tuesday unloaded the first 40 sacks of a shipload of rice the Republic is giving Indonesia.
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    • 435 2  -  By ALLISON LIM FOUR private hospitals have cut their room rates in response to falling occupancy levels. The Gleneagles and Mount Elizabeth hospitals, part of the Parkway Group Healthcare, have cut their charges for a bed in a four-bed room from $163 a day to just
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    • 494 3 SINGAPORE NOW MANAGING SOUTHERN PENINSULA PASIR GUDANG The Malaysian government will propose to the International Civil Aviation Organisation (ICAO) to revert to Malaysia control of air space in the southern peninsula, now handled by Singapore, Transport Minister Datuk Seri Dr Ling Liong Sik
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    • 324 3 MALAYSIA’S Securities Commission (SC) said a move by the Singapore International Monetary Exchange (Simex) to launch a Malaysian stock index futures contract would hurt bilateral relations, Reuters reported on Monday. “"The industry felt it was not a very friendly act on the part
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    • 527 3  -  Two-year-old vomited after drinking water mixed with the ashes of a talisman *1 JANICE TAY A TODDLER who had been feverish for several days died on Monday after he drank water which contained the ashes of a talisman. Teo Zhe Ming had a fever
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    • 448 3  -  »'L Hy NAREMDRA AGGARWAL SINGAPORE’S all-important non-oil domestic exports fell by a worse-than-expected 2.3 per cent last month, as the Asian economic crisis continued to take its toll on critical electronics exports. Exports of Singapore-made electronics goods dropped 5 per cent last month compared to a
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  • HOME
    • SINGAPORE-KL TIES
      • 479 4 Leaders say countries should work together for economic recovery, not trade insults IN SINGAPORE SINGAPORE and Malaysia should work together to hasten economic recovery instead of trading insults and accusations, said MPs and government ministers on Saturday. But they added that relations must be built
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      • 152 4 ‘SINGAPORE and Malaysia are like Siamese twins that have been dissected and separated... Like any dissection, the wound may heal, but the scar remains... We must take the utmost care not to scratch or accidentally reopen the scar, which may be painful to either side
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      • 340 4  -  *L LESLIE KOH SINGAPORE must defend its national interests, follow the rule of law, and expect to be treated as an independent and sovereign state in its bilateral relations, said Minister for National Development Lim Hng Kiang last Saturday night. The Government had based its response
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      • 428 4  -  Consider instead the close historical, social and economic ties Singapore has with Malaysia, says the Foreign Minister IN MALAYSIA BRENDAN PEREIRA IN KUALA LUMPUR SINGAPORE should not place too much emphasis on rules and rake up questions of the law so that
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      • 331 4 KUAIA LUMPUR The deputy president of Umno Youth said that if Singapore persisted in using legal and technical points as the norm to handle relations with Malaysia and refused to take into consideration the unique bilateral historical links, then the Youth movement would ask Kuala Lumpur
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    • 487 5  - 'Y ou break wind in public?’ iiAIJONAL KIDNEY FOUNDATION Bu KARAMJIT KAUR TWO women in India who went to a National Kidney Foundation job interview there told an Indian newspaper they were offended by the “disgusting questions” asked. On Monday, the Times of India reported that the two women, who
      TAN SCAN ANN  -  487 words
    • 438 5 TWO Singaporeans who visited Johor Bant last Saturday were waved through at the Johor immigration on their exit, without a stamp in their passports. Nor were their white immigration cards taken. When they reached Singapore immigration at Woodlands checkpoint, an officer advised them to turn back
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    • MURDERED BULGARIAN WOMAN
      • 1055 6  -  IhL SHARON VASOO BULGARIAN beauty lordanka Apostolova's first five months in Singapore are shrouded in mystery. The 26-year-old Englishlanguage graduate never talked about it: how she arrived here, what she did or where she lived. All that her friends and associates saw was a generous
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      • 773 6  -  «IL TAN 001 BOON DAYS before he committed a “beautifully planned" murder. Shaifiil Edham Adam revealed his plan to three people whom he hoped would help him to carry it out. The 22-vear-old ex-com-modities trader approached a friend from his national service days,
        Layout by FABIAN CHAN MIN FAY; Illustration by LIOYVIC 11.10  -  773 words
    • 550 7  -  *!L 7XZAMTA ZAKARIA WITHIN the first hour, nearly 200 people thronged the exhibition on organised rapes in Indonesia, which was launched by the Association of Women for Action and Research (Aware) last Saturday. Some visitors were in tears as they signed the two
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    • 623 7  -  By] ELENA CHONG A BUSINESSMAN who sued his sister Stan Chart chief executive Theresa Foo and their mother, Madam Maria Chia’s estate, had his case dismissed with costs by the High Court on Tuesday. Mr Andrew Yeo Cheng Hay, 46. had claimed that the estate
      STKVKN I I I  -  623 words
    • 345 7  -  Bu KOH BUCK SONG SINGAPORE can bounce back to "healthy growth” of 3-5 per cent in two to three years, if the right things are done, such as boosting innovation and production, and finding new markets. The economy is at
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    • 432 8  -  By JOANNE LEE A CAR mechanic who w’ent to help a neighbouring mechanic to guide a car into his workshop in Eunos Avenue 4 died after it reversed into him last Friday morning. Mr Sek Weng Loon, 49, was trying to fix the
      PICTURES: MUHAMMAD SHAH  -  432 words
    • 234 8 POLYTECHNICS will be given more than $lOO million over the next five years to upgrade their information technology infrastructure, Education Minister Teo Chee Hean said last Saturday. He said that the funding, to which the Government has agreed in principle, was part of its
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  • Page 5 Advertisements
    • 290 5 &lt;*+ J Jm -ssL &lt; m w Wtm while abroad while abroad &lt;•&gt;,* BOARDING PASS TheStmitxTm*** Fkght» Date From SINGAPORE Class ECONOMY Departure Time USA, LONDON OS AUSTRALIA USA, LONDON OR AUSTRALIA w.mi m rnunn at th« eoaaowo «ati ic mwutis atroas mworum rent mnurti •i*oi*~oZZm£ T jr The StraitsTlmeS
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  • Page 8 Miscellaneous
    • 1061 8 RADIO SINGAPORE INTERNATIONAL (ENGLISH) PROGRAMME SCHEDULES 1100 1400 Hours (GMT) 6015 KHz (49M BAND) 6150 KHz (49M BAND) MONDAY 1100 News 1109 Business Market Report 1115 Arts Arena 1130 News 1135 Wired Up 1145 Newsline 1200 News/Weather (AsiaPacific) 1210 E Z Beat 1230 Business Market Report 1235 The Written Word
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  • SPORTS
    • 566 9  -  SOCCER PETER SIOW BAX all foreign players for good if they do not support the S-League’s across the board 20 per cent pay cut. The call was made by Geylang United on Wednesday as it felt that if the foreigners do not want to
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    • 516 9  - All hail the victor it's Hendrawan BADMINTON By THOMAS KOH MONEY may make the world go round but in Indonesian shuttler H. Hendrawan’s case, love helped turn his faltering career around. The 26-year-old recorded the biggest victory of his career when he outclassed world No. 1 Peter Gade-Christensen in straight
      TAN M AN ANN  -  516 words
    • 476 9  -  BOWLING By THOMAS KOH SINGAPORE’S Jesmine Ho received a big morale-booster ahead of next month’s Commonwealth Games in Kuala Lumpur w hen she won the Singapore Masters Cup on Tuesday at Cathay Bowl, Eastside. The victory completed a grand double for Ho, who won
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  • MALAYSIA
    • 504 10  -  By BRENDAN PEREIRA IN KUALA LUMPUR DRASTIC measures by the government may shock foreigners, but are necessary' to revive the economy, said Malaysian Prime Minister Datuk Seri Dr Mahathir Mohamad on Thursday. “Only in this way can Malaysia maintain its position without depending on foreign
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    • 349 10 Bernama GERIK (PERAK) The police had to act fast and use the Internal Security Act to detain three people for allegedly spreading rumours through the Internet to avoid undesirable incidents like panic buying, Deputy Home Minister Datuk Tajol Rosli Ghazali said last Sunday. Panic
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    • 452 10 KUALA LUMPUR A Malaysian daily has said that Malaysians should stop mocking Singapore for being kiasu because they may in turn be ridiculed for not wanting to seek progress. The Chinese-language daily, China Press, said Malaysians have interpreted the Hokkien word as having negative connotations and
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    • Article, Illustration
      49 10 HANGING OH What a lucky break. The driver of this lony and his assistant escaped uninjured when the vehicle, laden with timber planks, fell on its side with the prime mover sticking up in the air along Jalan Sungai Buloh in Selangor on Tuesday. NEW STRAITS TIMES
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    • 179 10 New Straits Times JOHOR BARU The Johor Immigration Department has said it has not received any complaints by visitors from Singapore about irregularities when clearing passport formalities at the entry and exit checkpoints here. Its director, Mr Tasnim Othman, said the department could not comment
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  • SOUTH-EAST ASIA
    • 520 11  -  Reports by SUSAN SIM INDONESIA COBHESPONDENT JAKARTA President B.J. Habibie, making his first Independence Day address, on Saturday said that Indonesia had entered a new “era of democratic resurgence”. Recounting the events which led to his ascent to the presidency in May, he
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    • 286 11 JAKARTA President B. J. Habibie last Friday conferred medals of honour on 38 Indonesians, including his wife, his brother and a former minister jailed by the Suharto government for planning bomb attacks on Chinese properties. The medals are presented traditionally for “special service to the
      AFP  -  286 words
    • 304 11  -  By LEE SIEWHUA US CORRESPONDENT WASHINGTON A trade-fi-nancing agreement signed in May between Indonesia and the Export-Import Bank is still inoperative and talks will continue. US administration sources said the Indonesian authorities had not yet responded effectively to the Ex-Im Bank’s offer of
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    • 321 11  -  By EDYVARD TANG THAILAND CORRESPONDENT BANGKOK In a rare display of unity, Thailand’s opposition has closed ranks with the Chuan Leekpai government and pledged to back the finan-cial-sector reform measures designed to nurse the economy back to health. Opposition leader General Chavalit Yongchaiyudh
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  • COMMENTARY
    • 552 12 THURSDAY August 20,1998 AS BUZZWORDS go. creativity and entrepreneurship have been around in Singapore for a number of years now. But Deputy Prime Minister Tony Tan’s two recent speeches on these subjects the first at the Chinese High School, the second at the Singapore Chinese Chamber of
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    • 609 12 TUESDAY August 18,1998 ULTIMATELY, it is the Singaporean label that counts. Of course, Home Affairs Minister Wong Kan Seng’s disclosure that 17 per cent of Malay workers are nowin top managerial, technical and professional positions, against only 10.8 per cent in 1990. is something that
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    • 83 12 THE Singaporean Every man... would have what I would call a “lift view". Mr Tan is capable of taking a long-term view in his own small way. Therefore, the difference between Mr Tan and Mr PhD is one of degree. But to some managers and observers of human
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    • 885 12  -  Bij_\ KOH BUCK SONG OF ALL the many injustices against the small man, one of the worst must be the assumption that he is incapable of taking a “helicopter view”. Helicopter vision, for the uninitiated, refers to the ability to see the big picture rather than
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    • 975 13  -  MY VIEW TAN 001 BOON SCENE: The walkway outside a busy fast-food restaurant. A group of armed assailants searches the area for their target. When they spot him, they attack him viciously. The victim dies instantly when his head is struck
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    • 946 13  -  BY THE WAY TAN SAI SIONG WITH Singapore facing the strong possibility of a recession soon because of the Asian economic turmoil. Singaporeans' best bet appears increasingly like a millstone around their necks. I am referring to the high level of home-ownership here, the
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  • INSIGHT
    • 1851 14 Politics Of Low Growth Singapore has always anchored itself cm expectations of a materially better tomorrcnv. What happens between now and the next General Election if the ccmntry enters a period oflcnv growth? How will it change the political complexion
      LUDWICIMO  -  1,851 words
    • 1377 15  -  THINKING ALOUD WARREN FERNANDEZ THERE is nothing, they say, like a crisis to focus minds. Little wonder then that Parliament witnessed one of its most comprehensive and lively debates when MPs turned their minds recently to the crucial question of how the present economic
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    • 1016 15  -  THIS WEEK IN POLITICS KOH BUCK SONG AS WAS appropriate for a National Day message, Prime Minister Goh Chok Tong’s speech on Aug 8 contained ample rallying points of national unity and economic cohesiveness. On the plus side, he hinted at more off-Budget measures
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  • MONEY
    • 391 16 THE week started on a bad note when news of the Russian government's decision to devalue the rouble broke on Monday. The Straits Times Industrials Index (STII), having broken the 1.000-mark the previous week, continued its slide south. It closed 17-87
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    • 77 16 ST Industrials Index Th« Straits Timas Industrials Index droppad 40.95 points on the waak to 933.16. DAY CLOSE TURNOVER Monday 945.49 (-28.62) Tuesday 927.62 (-17.87) Wednesday 923.04 4.58) Thursday 922.86 0.18) Friday 933.16 (*10.30) 83.844 &lt;$178.180m) 147.333 ($175.682m) 390.040 &lt;$266.590m&gt; 503.970 ($614.618m) 182.287 ($200.625m) BT-MGA Index Tha
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    • 1892 16 Company Data ann Net earn TV LV &lt;$m) ($ml EPS TV LV (eta) (eta) AsiaPac Brew Jun 12 1 37.235 49 462 14.7 19.5 Alexandra Hldg Jun 30 P 9.575L 3948 32L 13.1 Asean Fd US$ Jul 20 1 29.173L 5291 194 L 35.0 AseanSup USS Jul 21
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    • 146 16 BIGHTS ISSUE E*Books Acc 6 Company Ratio data dosa Paymt Pan M'sian ona-for-ona «RM0.50 Jul 31 Aug 7 NA BONUS ISSUE (iBooks Company Ratio data close I0T Ona-for-ona Aug 17 Aug 24 NA Matalock Two-for-ona Aug 25 Sepl NA OTHERS E«Books Acc 6 Company Ratio data close Paymt
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    • 26 16 Company Rights issut AsiaMetri» tan rights (each wrt snares with carrying 3 warrants Rts to sub) for every ten existing shares Company Bonus Issue
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    • 124 16 Company Placa Data Tima Transit Mix A Ballroom 2 Grand Plaza Parkroyal 10 Colaman Straat S'pora (*****9) Aug 27 10.00am GB Hidqs A 26 Jalan Tarusan Jurong Town S'pora (*****1) Aug 26 10.00am Liang Allum c 51 Banoi Rd Liang Huat ind Complx S'pora(*****8) Aug 18 3.00pm Hai
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    • 716 16 Payment (cts) Ca data Books close Pay data Alexandra 50c t&gt; 1.5 Sap 9 Sap 16 Oct 6 Auttreland A50c 1 5 Aug 31 Sap 7 Sap 18 Brilliant Sc b 0.8 Sap 23 Sap 30 Oct 13 Bukit Semb 20 Aug 26 Sap 2 Sap 15 CarnaudMetal
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    • 346 17  -  Bn WILLIAM CHOONC SOFTWARE giant Microsoft announced last Friday the setting up of a regional operations centre in Singapore, a move which will inject $lOO million worth of business into the economy. It will also result in the consolidation of more than 10 Microsoft
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    • 557 17  -  Bij KALPANA RASHIWALA THE $l2O-million second phase development of Roxy Square in Katong will finally be completed by the end of next year after a delay of over 10 years. The 18-storey freehold development opposite Parkway Parade comprises a 70,000 sq ft retail podium slated
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    • 143 17 COUNTER RATES Buying 00 Selling Singapore dollar! to on» unit of foreign curr*ncy US dollar 1.7335 1.7650 Sterling pound 2.8010 2.8877 Australian dollar 1.0072 1.0470 Canadian dollar 1.1251 1.1583 nz dollar 0.8511 0.8871 EC unit 1.9436 Singapore dollars to 100 units of foreign currency Austrian schilling 13.4450 14.1275 Belgian
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    • 110 17 Contract data: August 21, 1998 Unit II 3 mth* 6 mths 9 mth* 12 mth* Call Vtlu* ditt US$ 5 5 57* 57* 57. 47* 25/8 A$ 4»/, 4/; 47, 47, 47, 3V. 25/8 NZ 5 5/, 57. 57» 57. 47. 25/8 STC 77* 77» 77. 77»
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    • 838 17 Managers' prices: August 22,1998 Aberdeen Astdt Mg* Asia Ltd Aberdeen S pore Gr Fund 0.636-0.669** Aberdeen Select Portfollb (et NAV) American Opportunities Fd 0.956" Continental Europe Equity Fd 0 958" 0.965** Asian Fixtd'ncom# Fund 0.945" Pacific Equity Fund 0.760" Indonesian Equity Fund 0.530" Malaysian Equity Fund 0 616”
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    • 3923 18 Transaction date: August 2!, ***** INDUSTRIAL COMMERCIAL 1998 High Low Company Curr Last Traded Sale ♦orVol Day 000 High Low Cr'* Div Nat M Cap P/E $mll Wt Avg Prlct 43 11.5 e ACE Dynamics20c 12 •1 50 12 12 0.1 15.0 9.8 12 31 18.5 e
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    • 856 18 1998 High Low Company Curr Last Traded Sala ♦orVol 000 Day High Low Cr't Div Nat P/C M Cap $mll Wt Avg Prlct 134 50 ABR Hidgs 5c... 77.5 ■1.5 26 77.5 70 37.8 79 243 42 a AS Auto 10c. 49 5 -3 68 51 485 15.ON 4.7
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    • 1475 19 BONDS, LOANS WARRANTS Transaction date: August 21,1998 j 1998 Last Vol Day Last Quote Wt Avg High Low Company Sale ♦or000 High Low Buyer Seller Price 23.5 8 m m AMDS c5.5%*****6 10.5 7.5 10.5 20.5 3 “Acer W*****1 USS 4 2 4.5 95 6 Acmo W*****4 8 unch 2
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    • 1172 19 Transaction date: August 21,1998 1998 Curr Last Vol Day Grott Nat M Cap High Low Company Tradad Sola ♦Of 000 High Low dlv P/E $mll MALAYSIAN STOCKS (in S$) 135 65.5 48 28 10 m 54 •2 1635 64.5 47.5 5.0 22.7 55.4 70.0 AMDS 50C 12 -0.5
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    • 541 20  -  TAN LI ENG TAT Lee Bank will make an additional provision of $350 million to ensure the new’ Keppel Tat Lee Bank (KTL) would be “free from assets of doubtful value", said Keppel Group chairman Sim Kee Boon on Tuesday. In a rare
      JKROMK MINC  -  541 words
    • 377 20  -  REBECCA LEE and KELVIN HONG BANKS are bending over backwards to help beleaguered home borrowers, even to the extent of letting customers stretch loan repayments beyond retirement age. Also, Credit POSB. Keppel Bank. DBS Bank, United Overseas Bank and OCBC Bank plus three major foreign banks,
      JKHOMK \II\C  -  377 words
    • 516 20  -  Bu JEAN CHIA SAY goodbye to the 30-year-old market barometer Straits Times Industrials Index (STII), and welcome a revamped Straits Times Index (STI), come Aug 31. Unlike its predecessor which comprises only industrial stocks and is price-weighted, the new STI will be valueweighted and will
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    • 412 20  -  By COLIN TAN and YEOW PEI LIN TOP property developers DBS Land and Keppel Land on Wednesday reported plunges in their interim earnings, hit bv provisions for falling values of properties languishing unsold in the weak market. Net profit at DBS I .and fell 60.5 per cent
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  • Page 21 Advertisements
    • 933 21 &gt; The Straits Times Weekly Edition m VM I.D.E. A. "(he essence of market intelligence" FINANCIAL INFORMATION SALES OPPORTUNITY I.D.EA (Independent Economic Analysis (Holdings) Pte. Ltd.) is a leading player in the provision of global financial information analysis. Our highly successful track record in forecasting price mover and interest rate
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  • Page 22 Advertisements
    • 1023 22 £k t! *is (W Seagate Information, the way you want it. Seagate wishes to appoint experienced and capable professionals in the following positions: I ANG MO KIO SYSTEM ENGINEER, IT Responsible for providing support to Oracle database administration and its applications, including applications set-up, server patch management, database performance and
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  • FORUM
    • 233 23 THE latest atrocity in Indonesia we hear is the burning of a nightclub because it was regarded as a centre for prostitution. As a Muslim. I am appalled, saddened and ashamed to hear of the destruction of Chinese properties and the mass rape of Chinese women
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    • 76 23 I HAVE just replaced my telephone receiver reluctantly after being put on hold by the Singapore Broadcasting Authority licensing unit's “Customer Service Hotline”. I had waited an incredible 53 minutes! At intervals, a voice asked if a certain department was required, or if the caller wanted to
      DARIO NOCHK  -  76 words
    • 494 23 I REFER to the feedback from Mr David Moreton and Ms Fuadah Ami on SBA’s enquiry line (above, and ST, Aug 17). The SBA toll-free number is an Interactive Voice Response System which provides customers with direct telephone access to our computer database by keying in
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    • 248 23 I REFER to the report on the National Kidney Foundation’s (NKF) interview methods and corporate dress code for employees (see Page 5). I would like to clarify some issues brought up in the report. In the first place, these allegations were made by unsuccessful
      NOEL ROSALES  -  248 words
    • 435 23 I REFER to the letter “$5OO fine won’t deter unlicensed doctors” by Dr George Wong. He commented that the maximum penalty of a fine of $5OO for practising medicine without proper registration/qualifications is “inadequate”, and called for an increase in the penalty to protect
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  • 287 24 AFP BRISBANE A Singaporean university student, who shot his flatmates through the heart with a crossbow, was jailed for life on Wednesday. Rhaajesh Subramaniam. 27. an engineering student, pleaded not guilty to murdering Priva D’Souza, 22, and her brother Ajay, 21, from India, on
    – AFP  -  287 words
  • 607 24  -  But Government and people will f orge a deep bond if they stand together, says SM Lee Bii KOH BUCK SONG TROUBLESOME times lie immediately ahead, but the Government and Singaporeans will forge a new and deep bond if they stood together and pulled
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  • 101 24 ‘lndonesia has gone through a traumatic downturn. The new President has to tackle a deepening economic crisis and at the same time resolve political pressures for democratic reforms. Malaysia is in a healthier position, but its economy is being battered by the market. Both Indonesia and Malaysia
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  • 393 24  -  By ALLISON LIM POLICE and Health Ministry officers seized 71 Viagra tablets, used in the treatment of male impotence, last Wednesday, a Health Ministry statement said on Saturday. It added that a 54-year-old man was helping them with their investigations. The ministry declined to give further
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